Bank of the Republic of Haiti explained

Bank Name In Local:Banque de la République d'Haïti
Bank Repiblik Ayiti
Bank of the Republic of Haiti
Ownership:100% state ownership[1]
Reserves:1 820 million USD
Headquarters:Port-au-Prince, Haiti
Established:17 August 1979
President:Ronald Gabriel
Leader Title:Governor
Bank Of:Haiti
Currency:Haitian gourde
Currency Iso:HTG
Preceded:National Bank of the Republic of Haiti

The Bank of the Republic of Haiti (Haitian; Haitian Creole: Bank Repiblik Dayiti, French: Banque de la République d'Haïti; BRH) is the central bank of Haiti. It was formed in 1979 from the National Bank of the Republic of Haiti (French: link=no|Banque Nationale de la République d'Haïti), which had served as the country's bank of issue since 1910, itself succeeding the National Bank of Haiti.

The bank is active in promoting financial inclusion policy and is a member institution of the Alliance for Financial Inclusion. It recently announced a Maya Declaration Commitment to continue with the modernization of the payment system, and submit legislation to regulate and supervise micro finance institutions to relevant authorities in 2013.[2]

The central bank in Port-au-Prince was stormed during the Haitian riots of 2024. The attack was driven back by the bank's security guards leaving 3 people killed. [3]

Background

The oldest reference to a bank in Haiti can be attributed to a short correspondence exchanged during September 1825 between a foreign tradesman, Nicholas Kane, the Secretary of State Balthazar Inginac about a proposal made by George Clark in the name of a German group, Hermann Hendrick and Co., to establish a bank in Haiti. However, the proposal was never accepted, and Hermann Hendrick and Co. was never established.

A Haitian law of 1880 allowed for a currency issuance concession to be granted to a privileged bank, and the National Bank of Haiti was subsequently established in Paris in early 1881 by the French bank Crédit Industriel et Commercial. In October 1910, the issuance concession was transferred to a new bank, the National Bank of the Republic of Haiti (BNRH) formed by a consortium of French, German and American interests. The National City Bank of New York took over the BNRH following the United States occupation of Haiti, and gained full ownership in 1919. In 1935, the Haitian government acquired the BNRH from National City Bank.[4] In 1979, BNRH was split into two financial institutions: the (BNC), a commercial bank, and the Bank of the Republic of Haiti.

Governors

Source: [6]

See also

External links

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Notes and References

  1. Web site: Weidner . Jan . The Organisation and Structure of Central Banks . Katalog der Deutschen Nationalbibliothek. 2017. PDF.
  2. Web site: Maya Declaration: Commitment made by the Banque de la République d'Haiti | AFI Global | Bringing smart policies to life . AFI Global . 2013-10-18 . 2013-10-30 . https://web.archive.org/web/20131101045908/http://www.afi-global.org//library/publications/maya-declaration-commitment-made-banque-de-la-republique-dhaiti . 2013-11-01 . dead .
  3. Web site: Three Assailants killed in Haiti Bank Attack, Employee Says Barron's . . 2024-03-19 . 2024-03-20.
  4. Web site: Haiti: An Island Luminous . National City Bank in Haiti . Michael L. Krenn.
  5. Book: Chiefs of State and Cabinet members of foreign governments / National Foreign Assessment Center. Sept 1991.. HathiTrust. 2003.
  6. Web site: Banque de la République d'Haïti. www.brh.ht.